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No bond required for Landlord let !!!
losgiganteskid
Posts: 965 Forumite
Is there a downside to a Landlord letting his/her property without collecting a bond at inception of the Tenancy Agreement (apart from the obvious in that there is no "fund" available to dip into if the property is left in a state)
Could the Landlord merely ask for 2 months rent in advance and avoid having to deposit any bond with the Deposit Protection people ?
Could the Landlord merely ask for 2 months rent in advance and avoid having to deposit any bond with the Deposit Protection people ?
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Sounds like all the downsides are the LL's.
deposit schemes are only for deposits so if your LL hasn't taken one then there is no need / reason to use a scheme.
if you are paying 2 months in advance then the LL has no funds available if the place is damaged as the money paid is for rent and you have every right to live in the property up until the last day of rental.
If you are the LL why do you want to avoid the schemes? most 'good' tenants would be suspious of this.0 -
For the life of me I can't understand why some LL's (I am a LL) are trying to squirm out of the new regs, just register the tenants deposit it's a simple enough process0
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My highlighting. Even if the property is left in a state, you should never view a tenant deposit as a "fund to dip into" - any proposed deductions have to be properly accounted for.losgiganteskid wrote: »Is there a downside to a Landlord letting his/her property without collecting a bond at inception of the Tenancy Agreement (apart from the obvious in that there is no "fund" available to dip into if the property is left in a state)..
Have a look at the RLA view (link) on alternatives to taking a tenancy deposit but, as Steve says, complying with the deposit regs is really not an onerous process.0 -
We never paid a deposit for our current rental.
Standard AST (now on periodic), pay the rent on the 1st of each month. We originally didn't have a deposit as were waiting for return of our previous deposit & made gentleman's agreement with LL that we would pay them the deposit as soon as it was returned (which we would of course have honoured - we were so grateful at the time that LL was letting us move in as you can imagine!). Then our deposit was returned in full & current LL said not to bother. We are good tenants and we would never leave a place any less perfect than we received it ... but LL has no way of knowing this for sure (unless she is clairvoyant?) .... Other than this one risk, I don't know of any other issues ....0 -
No deposit for my rental place either, just two months rent up front. Seems silly to me, there's absolutely no incentive for me to take care of the place. I know the previous tenants left it in a bit of a state, the LL had to spend £1000 to get it back to scratch before I moved in - don't know why he repeated the same thing just to avoid a tenancy deposit scheme.poppy100
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No deposit for my rental place either, just two months rent up front. Seems silly to me, there's absolutely no incentive for me to take care of the place. I know the previous tenants left it in a bit of a state, the LL had to spend £1000 to get it back to scratch before I moved in - don't know why he repeated the same thing just to avoid a tenancy deposit scheme.
Perhaps he isn't declaring his taxes and is worried the deposit scheme list is used by the tax office?RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
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Assuming you pay your rent monthly, you have in fact given the LL a months deposit.
Any initial payment over and above a month's rent is effectively a deposit, regardless of what the LL wants to call it.
But two months before due to leave they stop paying and leave a bit of damage - the landlord can do what...0 -
barnaby-bear wrote: »
But two months before due to leave they stop paying and leave a bit of damage - the landlord can do what...
Exactly the same as if you'd paid a month in advance + one month's deposit - he can do.... diddly squat !0 -
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